Bullish Percent Indicators indicate top

Discussion in 'Trading' started by thehangingman, Jan 12, 2007.

  1. Bullish percent indicator charts are now demonstrating that all sectors (with the exception of energy) are at the height of bullishness and indicating a trend reversal to be days to weeks away. Having reviewed all of the charts, Im fully expecting the indexes to make a few more highs before turning around.

    The only index that seemed to be near the end of bearishness was energy. However, that is currently around 30% and it demonstrated previously in 2006 that it could get as low as 12%. So energy still has some time to go before it hits the bottom point. Days, weeks or maybe a month at most.

    My opinion is that it would be fruitless to enter into any longer term holdings right now. The stocks may go up a few percent in the short term, but during a correction, they will probably fall at least 10% or more depending upon the equity.

  2. madrid9


    I don't see why people don't day trade

    no time is just an excuse, you can have limit orders all day long,

    holding for even 3 days makes my manly hair stand up :eek: